46. Recognition of depreciation Debit Credit a. Depreciation expense b. Depreciation expense c. Depreciation expense d. Accumulated depreciation Cash Equipment Accumulated depreciation Depreciation expense 47. Recognition of bad debts Debit Credit a. Bad debts expense b. Bad debts expense c. Bad debts expense Cash Accounts receivable Allowance for bad debts d. Allowance for bad debts Bad debts expense

46. Recognition of depreciation Debit Credit a. Depreciation expense b. Depreciation expense c. Depreciation expense d. Accumulated depreciation Cash Equipment Accumulated depreciation Depreciation expense 47. Recognition of bad debts Debit Credit a. Bad debts expense b. Bad debts expense c. Bad debts expense Cash Accounts receivable Allowance for bad debts d. Allowance for bad debts Bad debts expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following accounts should be closed? Depreciation expense Allowance for doubtful accounts Bad debt expense Unearned revenue Accumulated depreciation Dividends declared
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We are currently working on Bad Debt expense and Receivables. Please see attachement.
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The following is list of accounts each represented by letter(s). A Accounts Payable U Loss from discontinued operations B Accounts Receivable V Losses due to fire E Accumulated Depreciation-Equip W Merchandise Inventory F Bonds Payable X Notes Payable G Cash Y Premium on Bonds Payable H Cost of Goods Sold Z Rent Expense I Capital Lease Payable AA Rent Revenue J Discount on Bonds Payable BB Retained Earnings K Equipment EE Salaries and Wages Payable L Federal Income Tax Withheld Payable FF Sales Returns M Federal Unemployment Taxes Payable GG Sales Revenues N FICA Taxes Payable HH Sales Taxes Payable O Income Summary II Shipping Expense P Income Taxes Payable JJ State Income Tax Withheld Payable Q Interest Expense KK State Unemployment Taxes Payable R Interest Payable LL Supplies S Land MM Tax Expense T Land Improvement NN Unearned Rent Revenue Example of Answer: G4000D,B2000D,GG5000C,HH1000CWhere G denotes…
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